Forex trading fraud: the 4 worst offenders of recent times – Fxclearing.com SCAMMERS!

Top managment of stealer who scam money of clients:

Juan Belleza Jr
Team Leader
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
https://www.facebook.com/theimbachronicler
639776459387 / 639155292409

Lea Jean Belleza
Assistant
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
https://www.facebook.com/lj.r.belleza

James Tulabot
Team Leader
https://www.facebook.com/jamescuzy

Allen Roel Costales
Sale Manager
522 Tanglaw St. Mandaluyong City Barnagay Plainview
https://www.facebook.com/allennicanor.costales
639565914849

Kristoff Salazar
Sale Team Leader
Unit 1414 Kumagawa Bldg River City Brgy 880 Sta. Ana Manila, Philippines
https://www.facebook.com/Kristoff225
639561355764

Xanty Octavo
Sale Manager
8137 Yabut Street Guadalupe Nuevo Makati City , Philippines
https://www.facebook.com/xanty.octavo
639171031948

Virgilito Dada
Account Manager
https://www.facebook.com/potsdada.antonio

Elton Danao
Sale Manager
https://www.facebook.com/eosnyssa
639175048891 / 639991854086

All of this persons need be condemned and moved in Jail.

!!!!!STOP STEAL Philippines MONEY!!!!!!

One alleged operative, who liaised with potential investors using a UAE phone number, has been arrested in Dubai. At least six fraud victims contacted the DIFC regulator, leading to a four-week investigation. The SEC’s claim also named WorldCorp Traders & Co., Inc. as a relief defendant, alleging that ICM had transferred at least $10 million to WorldCorp., which used at least some of those funds to trade in foreign currencies. At the principal’s direction the companies engage in a deliberate course of conduct to defraud and deceive customers. They typically charge its customers a commission of $175 per option to buy an option with a commission fee of $75 to offset an option transaction. The courts often find “systematic, willful and pervasive fraudulent conduct” regarding violations of the law and CFTC regulations over a long period of time. Improper sales practices often continue even after the filing of actions with the principal’s approval and active participation. For more information regarding this type of investment be sure to investigate the databases of the National Futures Association and the CFTC. Such leveraged trading allows investors to speculate with a cash margin of less than 5% of the U.S. dollar price for foreign currencies such as the German Mark, the Swiss Franc, the British Pound and the Japanese Yen.

Shuster was previously sentenced to 60 months in prison after pleading guilty to criminal charges in a separate forex scam in federal court in Brooklyn. Investors should avoid high-pressure sales, confusing investments and broker FXCL s who encourage them to mortgage their home or cash out their retirement savings. Mr. Ward required a minimum $50,000 investment, and told investors they could anticipate significant returns. Authorities charged that Brown, owner and president of Brown Investment Services, promised investors he could double their money every 30 business days through trading on the Foreign Currency Exchange Market. Some industry experts say South Florida’s history as a hotbed for telemarketing boiler rooms makes it easy for fraudsters to move quickly into commodities such as currencies when the market gets hot. The scam invited investors in Philippines and Singapore to put their money in fictitious entities which claimed to be based in the Dubai International Financial Centre . Prosecutors said McCray also siphoned off $5.8 million in investor money, putting it into a Bermuda bank account and using it to purchase a condominium and a luxury sports car. The traders must accumulate enough borrowed funds to reach a contract size in either yen or dollars in order to make quota before they get on the payroll.

Find out if a firm or individual is unauthorised

They fail to prove by clear and convincing evidence that their registration would pose no substantial risk to the public. Make communication with the public which operates as a fraud or deceit. When the CFTC cottoned on to this illicit activity, they sentenced the pair to pay $35 million in restitution and a joint $420,000 civil fine. Scams come in many forms with high levels of sophistication to lure you into investing your hard earned savings. If large sums of money have been lost, you could get legal advice to identify avenues in retrieving your lost savings.

Communications pretending to be from popular social web sites, auction sites, online payment processors or IT administrators are commonly used to lure the unsuspecting public. At this point, Frank will have more incentive to put in more money and, as word begins to spread, other investors grab the “opportunity” to participate, leading to a cascade effect because of the promise of extraordinary returns. He is told by the fraudster that in 14 days he will get back his $50 plus money stealers a 20% interest. At the start of these schemes only a few investors are tempted to invest and will usually invest small sums. Cease-and-desist order on Rigen, following President Rodrigo Duterte’s closure order of all Ponzi-like investment schemes. So, an investment of ₱10,000 will yield ₱36,000 a year, every year, for as long as the investor was alive. Multi-billion peso scam, he fled to Malaysia, but was arrested in Kota Kinabalu and sentenced to two-year imprisonment.

Forex

He also was ordered to pay back more than $14.7 million to investors in the United States and abroad. Matthews admitted last April to soliciting $22 million from 247 investors between 2000 and 2004 and then absconding with much of the money, according to court filings. The maximum penalty for each offense of money laundering is ten years’ imprisonment, a three-year term of supervised release, and a $250,000 fine. James E. Brown Jr. faces a maximum of 120 years in prison and fines of up to $16 million on each count when he is sentenced March 14 by U.S. District Judge Richard Williams, according to federal prosecutors. Luger was convicted in January on counts of racketeering, grand theft, fraudulent transactions and telemarketing fraud. Luger was arrested in 2001 for his role in the scam, but then prosecutors said he started another operation, called Group 24, while serving house arrest in Boca Raton. The state said an accomplice is currently an international fugitive.

IMoney.ph is a leading financial comparison website and a trusted personal finance authority to help you make the most out of your money. Emgoldex used social media, particularly Facebook, for marketing and recruitment. And many of their victims were typically young or working overseas. Aman Future’s founder got out of prison in 2014 and, to this day, has not been extradited back to the Philippines after the Malaysian Department of Foreign Affairs declined the country’s request for extradition.

Cryptoasset investment scams

The CFTC is working with state and local authorities to step up investigations and prosecutions in fraud cases. The investment program, which Brown promoted at classes and seminars, was bogus. Nationwide, the CFTC has gathered about $300 million in restitution and penalties in 85 cases in the past five years, Mocek said. One good indicator, though unscientific, is that advertisements for training in commodities trading are starting to appear more frequently in newspapers and other media outlets, he said. Commodities fraud, a growing problem in South Florida and across the nation, will be a topic of debate when industry leaders meet at the Futures Industry Association’s annual conference next month in Boca Raton. A third man charged in the scheme, Tony D. Ortega, pleaded guilty earlier this year to charges of conspiracy to evade taxes. He also was found guilty of four counts of perjury for his testimony in bankruptcy proceedings for International Forex, in which he denied the company was related to Earthwise International. The receiver has recovered approximately $5.2 million and made an initial distribution to more than 1,600 investors and creditors of nearly $3.3 million, representing 19.6% of their claims, and continues to pursue actions against other defendants. The $720 commission is in addition to a 12 percent of equity, up-front fee charged. They make false statements on their registration documents filed with the CFTC by failing to list principals of the company due, in part, to their controlling financial interest in the company.

It is clear that the leverage risk taken by the managers of the firm went far beyond anything that could be considered reasonable. The summary judgment should clear the way for the court-appointed receiver to start returning some of the victims’ money. He started his latest scheme in 2004, shortly after being paroled from a 35-year prison sentence, the SEC said. Dunn also encouraged people who’ve been cheated to spread the word about fraud among their friends and neighbors.

*Information not comfirmed*